R Silcock Limited - Period Ending 2017-03-31

Registration number: 9283501

R Silcock Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Coates and Partners Limited
The Old Vicarage
51 St. John Street
Ashbourne
Derbyshire
DE6 1GP

R Silcock Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Financial Statements	5 to 7

R Silcock Limited

Company Information

Directors	C Dean L Dean

Registered office

The Old Vicarage 51 St. John Street Ashbourne Derbyshire DE6 1GP

Accountants

Coates and Partners Limited The Old Vicarage 51 St. John Street Ashbourne Derbyshire DE6 1GP

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
R Silcock Limited
for the Year Ended 31 March 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of R Silcock Limited for the year ended 31 March 2017 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of R Silcock Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of R Silcock Limited and state those matters that we have agreed to state to the Board of Directors of R Silcock Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R Silcock Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that R Silcock Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of R Silcock Limited. You consider that R Silcock Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of R Silcock Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Coates and Partners Limited
The Old Vicarage
51 St. John Street
Ashbourne
Derbyshire
DE6 1GP

31 August 2017

Page 2

R Silcock Limited

(Registration number: 9283501)
Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	3,453	4,062
Current assets
Stocks		16,543	23,185
Debtors	5	53,816	60,249
Cash at bank and in hand		11,755	12,763
		82,114	96,197
Creditors: Amounts falling due within one year	6	(91,161)	(97,423)
Net current liabilities		(9,047)	(1,226)
Total assets less current liabilities		(5,594)	2,836
Creditors: Amounts falling due after more than one year	6	(36,825)	(41,317)
Net liabilities		(42,419)	(38,481)
Capital and reserves
Called up, allotted and fully paid share capital		100	100
Profit and loss account		(42,519)	(38,581)
Total equity		(42,419)	(38,481)

The notes on pages 5 to 7 form an integral part of these financial statements.

Page 3

R Silcock Limited

(Registration number: 9283501)
Balance Sheet as at 31 March 2017

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered to the Registrar of Companies in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and directors' report has been taken.

Approved and authorised by the Board on 31 August 2017 and signed on its behalf by:
 

.........................................

L Dean

Director

The notes on pages 5 to 7 form an integral part of these financial statements.

Page 4

R Silcock Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales registration number: 9283501.

The address of its registered office is:
The Old Vicarage
51 St. John Street
Ashbourne
Derbyshire
DE6 1GP
England

These financial statements were authorised for issue by the Board on 31 August 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% Reducing balance basis

Page 5

R Silcock Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2016 - 9).

4	Tangible assets

	Plant and machinery  £	Total £
Cost or valuation
At 1 April 2016	5,000	5,000
At 31 March 2017	5,000	5,000
Depreciation
At 1 April 2016	938	938
Charge for the period	609	609
At 31 March 2017	1,547	1,547
Carrying amount
At 31 March 2017	3,453	3,453
At 31 March 2016	4,062	4,062

5

Debtors

	2017 £	2016 £
Trade debtors	42,893	59,345
Other debtors	10,923	904
Total current trade and other debtors	53,816	60,249

Page 6

R Silcock Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

6

Creditors

	Note	2017 £	2016 £
Due within one year
Loans and borrowings	7	62,682	59,602
Trade creditors		24,097	31,963
Taxation and social security		4,382	4,818
Other creditors		-	1,040
		91,161	97,423
Due after one year
Loans and borrowings	7	36,825	41,317

7	Loans and borrowings

	2017 £	2016 £
Current loans and borrowings
Bank borrowings	4,392	4,212
Director loans	58,290	55,390
	62,682	59,602

	2017 £	2016 £
Non-current loans and borrowings
Bank borrowings	36,825	41,317

Security has been given by way of an unlimited debenture over the company's assets and personal guarantees from Mr and Mrs Dean, the directors and shareholders.

8	Transition to FRS 102

There were no transition adjustments to be made.

Page 7